Many traders are wondering how to make money with Bitcoin. Although cryptocurrencies are no longer considered a recent phenomenon, many traders do not know how to invest in Bitcoin or other digital currencies.
Today’s guide is mainly intended for novice traders, but also for those who are not experienced in Bitcoin trading and want to learn with the aim of obviously making money.
For any questions, you can use the box that you can find at the end of this post, we will be happy to answer you as soon as possible and in an exhaustive manner.
How to make money with Bitcoin?
Making money with Bitcoins is the declared goal of those who trade on this cryptocurrency, there is no need to go around it. However, although we really like the idea, we announce immediately that it is not as easy as it may seem.
Making money with cryptocurrencies is a difficult goal, which you can only achieve by studying well the price movements of cryptocurrencies and, more generally, how they work.
In general, trading with cryptocurrencies shouldn’t be viewed too differently from trading on other markets. In fact, cryptocurrencies are real financial assets, with a quotation linked to the logic of supply and demand.
That is, the more people place Bitcoin buy orders the more the price goes up, the more people place Bitcoin sell orders the more the price goes down. This must be clear and it is essential for those who want to make money with Bitcoins.
Is it still possible to make money with Bitcoin?
In 2017, Bitcoin reached $ 20,000 and in the following two years it experienced a profound downsizing, reaching $ 3,500. The question therefore arises: can you still earn with Bitcoins?
The answer is yes, although as always this cannot be considered an absolute truth. But yes, you can still make money with Bitcoins. In fact, the price has risen after that collapse and has returned to a value of around $ 10,000, making various ups and downs.
Remember that with CFDs, for example, you can earn with Bitcoin even when the price goes down, so it is not essential that the price goes up to trade.
Investing downwards in Bitcoin
We have just anticipated it, you can earn with Bitcoins downwards, or when the price drops. If you choose to invest with one of the best Bitcoin brokers with CFDs you can make profits even when the price drops.
In fact, with CFDs you have two options and this applies to any financial asset, not just cryptocurrencies:
- Long: if you think that the price might go up;
- Short: if you think that the price might go down.
The size of the gain or loss will depend on the price change from the starting point and the amount you invested.
With CFDs you do not own the asset you are trading, in fact it is a speculative instrument. Without owning Bitcoin you can therefore make gains, whether the price goes down or up, but remember that you can also lose!
How much can you earn with Bitcoin?
The question is difficult to answer, in fact it all depends on how much you invest and on price movements. Bitcoin has often accustomed us to sudden price movements, its volatility is famous, although in 2020 there were several stable, slightly anomalous months for this cryptocurrency.
So how much can you earn with Bitcoin? It depends on you and your investments, as we said earlier Bitcoin is a financial asset like any other.
Making money with Bitcoin without investing: Bitcoin miner
You can try to make money with Bitcoin without investing, how? With mining. In fact it is not a real investment.
To make the Bitcoin blockchain work, the computing power of some computers is required. The people who offer the performance of this computer allow Bitcoin to work and are rewarded with Bitcoins.
Initially, mining was very profitable, but in the years after the various halvings (or forks), mining has not become so profitable and today those who mine do not do it in the first place to earn, but mainly to make the structure behind Bitcoin work.
So to be able to mine Bitcoin you must have a very powerful computer and know that the remuneration is so low that perhaps it barely falls within the costs (also take into account the cost of electricity!)
In our opinion, earning with Bitcoin with mining is not the most interesting or profitable way.
How to earn Bitcoin with Android
You can earn Bitcoins with your smartphone because today many cryptocurrency brokers offer the possibility of trading online directly from your mobile device (tablet or smartphone).
You can then download the online trading app you like the most from the Google Play Store that allows you to invest in Bitcoin from your Android smartphone.
How to earn Bitcoin with iPhone
In the same way you can earn Bitcoins with your iPhone, it is not necessary to have an Android smartphone, but also on iOS devices you can trade online!
We have come to the end of our guide. Making money with Bitcoin must be an activity that you must be able to perform. Don’t believe anyone who tells you it’s easy, unfortunately it isn’t.
There are many scams born online that have exploited the name of Bitcoin to take advantage. Let’s talk for example of Bitcoin Evolution and Bitcoin Future, but unfortunately there are many.
Our advice is to keep your feet on the ground. We do not tell you that you cannot make money with Bitcoins, it would be incorrect, in fact there are many people who have actually made money with trading on the first cryptocurrency in the world.
Our suggestion is to contact regulated brokers if you want to trade on Bitcoin and not to those who promise you easy earnings!